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Your Bank > Education and Advice > CNB University

Mortgage

Title
Date
Nov 07, 2013
Home Free in 15 Years
Would you like to own your home sooner and pay out less in mortgage interest?  Then say hello to the 15-year mortgage.  Your monthly payments will be higher than they would be if you opted for a 30-year mortgage, but in the long run, those higher payments may be worth it.
Nov 07, 2013
Apr 26, 2013
A Glossary of Mortgage Terms
The process of getting a mortgage is not something you do every day. You may encounter acronyms or terms that you are unfamiliar with, and knowing what they mean can make you more comfortable with what you are hearing or reading. Here is a list of some mortgage terms along with what they mean.
Apr 26, 2013
Nov 26, 2012
Buying vs. Renting

Is it better to own your own home or rent?  The answer depends on many factors.  What’s best today may change if the circumstances of your day-to-day life change.  Here are a few points you should consider if you’re weighing the options of buying versus renting.

Nov 26, 2012
Oct 19, 2012
Increasing Your Credit Score
Has your credit score suffered a setback as a result of challenges presented by the recent recession or other circumstances? If so, you can take steps to improve your score and gain your financial footing.  Taking simple, consistent steps, over time, can translate into a higher credit score.
Oct 19, 2012
Jul 16, 2012
Ten Steps to Homeownership
On your path to homeownership there are many steps, understanding what is involved in each can help you with the process. Here are ten steps with a brief explanation for each one.
Jul 16, 2012
Oct 03, 2011
Home Ownership Has Many Advantages

Home Ownership Has Many Advantages. For individuals who intend to stay in one area for a while, the financial advantages of home ownership can be hard to beat. For Example. Let’s say you — or your child or grandchild — are now paying $800 a month in rent. That would be enough to make payments on a $100,000, 30-year, 6% mortgage ($600 a month), plus cover $200 a month in property taxes. So, with an additional $10,000 for a down payment and money for closing costs, you could buy a $110,000 house, townhouse, or condo — with no increase in monthly payments. Build Equity. Save Taxes.

Oct 03, 2011
Jul 06, 2010
Get Back To Reality, Not Reality TV (House Flipping)

Originally published in the Daily Record, June 6, 2010 Hindsight, per usual, is 20 20, but in looking back on the subprime mortgage crisis, and resulting recession, we really should have seen this one coming. Why? Because there is no

Jul 06, 2010
Feb 17, 2010
Tax Credits for Home Buyer

$8,000 First time Home Buyer Tax Credit at a Glance The $8,000 tax credit is for first time home buyers only. For the tax credit program, the IRS defines a first time home buyer as someone who has not owned

Feb 17, 2010
Jan 21, 2010
Lessons in Lending - One Year Later: The Financial Crisis

October 6, 2009Reprinted with permission of The Daily Record ©2009You may recall that, a year ago, the newspapers were filled with startling information as large institution after large institution reported severe financial news and, in some cases, closed their doors.Mortgages

Jan 21, 2010
Jan 21, 2010
Understanding Rate Locks

 A mortgage loan cannot be closed without first locking in an interest rate. There are four components to a rate lock the loan program, the interest rate, points and the length of the rate lock. The longer the length of

Jan 21, 2010
Jan 21, 2010
Is There Any Truth in Lending?

 Applying for a mortgage is confusing enough, but when you apply, the lender has three days to mail you a Good Faith Estimate along with a Federal Truth in Lending disclosure statement, or as I affectionately like to call it,

Jan 21, 2010
Jan 21, 2010
The Mysteries of the APR

Applying for a mortgage is confusing enough, but when you apply, the lender has three days to mail you a Good Faith Estimate along with a Federal Truth In Lending disclosure statement, or as I affectionately like to call it,

Jan 21, 2010
Jan 21, 2010
Smoke Alarms, a Matter of Life and Death

 Early in the morning of September 9, 2006, a house fire was reported in Irondequoit. From the time the fire whistle blew at 3 46 AM to the time the Point Pleasant Fire Department responded, nine minutes had passed. The

Jan 21, 2010
Jan 21, 2010
Mortgage Ads 'As Seen on TV'

 Imagine this, you're sitting in front of the TV watching the ball game and a familiar mortgage advertisement for a well known national mortgage lender comes on "$395 Flat Fee." Well of course you can, and with any mortgage lender

Jan 21, 2010
Jan 21, 2010
Mortgage Life Insurance

 Purchasing a home is often times the single largest financial investment a person makes in his or her lifetime and taking out a mortgage can be a scary proposition. Now imagine if the principal wage earner dies. How will the

Jan 21, 2010
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